An article in Financial Advisor discusses two new studies: the first from PGIM Investments, which echoes what might become the conventional investment wisdom for the near future: selective active management…
Buffett-Backed Fund Launches ETF
A SEC filing reveals Ruane, Cunniff & Goldfarb plans to launch an ETF in an active non-transparent wrapper, according to an article in CityWireUSA. The ETF appears similar to the…
How Well Have Beta’s Predictions Aged?
The 1980’s were a critical era for gauging the capital asset pricing model’s—or CAPM’s—validity, posits a post on the CFA Institute Blog. Greater data access and expanded computing power in…
Stock Market Still Active Despite $11 Trillion Index Invasion
Two recent papers say active investing is alive and well, details an article in Bloomberg. Academics at Cornell University and the University of Technology Sydney, as well as at the…
Legendary Investor Warren Buffett Prepares Berkshire For New Economy
As Warren Buffett turns 91, he’s taking steps to ensure that Berkshire Hathaway will be well positioned to thrive in a technology-driven economy, lays out an article on CNBC. The…
Two Shiller-Inspired Metrics, Two Wildly Different Valuation Stories
Yale professor and Nobel laureate Robert Shiller popularized the cyclically adjusted price-to-earnings ratio, but he’s moved on to a different metric called the excess CAPE yield, contends an article in…
Billionaire Paulson Calls Crypto “Worthless”
Gold is poised to surge, and cryptocurrency is a worthless bubble, says John Paulson in an interview with David Rubenstein, as quoted in Bloomberg Wealth. Paulson has been looked at…
This Robinhood Investor Turned $250k Into $400 Mil
It was 2013, and Chad Byers, co-founder and general partner at Susa Ventures, was looking for a company worthy enough to be the firm’s first investment. As detailed in an…
What is Quality?
By Jack Forehand, CFA, CFP® (@practicalquant) — There has always been an interesting dichotomy with the quality factor. On one hand, individual investors typically consider it the most sensible factor and it is…
An In-Depth Look at Factor Valuation - And Which Factors Look Cheap Today
Valuing factors can be a confusing process. Not only are there are different factors to look at, there are also many ways to define them and a variety of different…